Recap Euro slided down like cable from their own crisis rumors / news shock. Made new low against Y-1 but successfully recovered back above Y-1. Although stopped at mid week resistance, it still managed to close the week above Y-1.
Outlook 3 tries pushing down and bounced back above Y-1. That is bullish.
As long as Y-1 down to B-1 can act as support, upside target is B+2.
Lawrence's Comment
Recap
Y-0 cleared from below, gave us reason to go long and Y+1 was cleared with minimal effort. Y+2 normal target reached. Closed the week below Y+2 and above midpoint.
Outlook
Strange ...
Lawrence's Comment
Recap
The less likely scenario presented itself - w. upthrust against Y+1 leading to a quick selloff to Y-1. Flushed thru Y-1 but not quite Y-2 and closed ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
No quick snap back up early in the week. Just drift down. End of week sudden pop back up to Y-1. Closed the week at midpoint and ...
EURUSD Nov 21 to Nov 25 Outlook
Lawrence’s Comment
Euro slided down like cable from their own crisis rumors / news shock. Made new low against Y-1 but successfully recovered back above Y-1. Although stopped at mid week resistance, it still managed to close the week above Y-1.
Outlook
3 tries pushing down and bounced back above Y-1. That is bullish.
As long as Y-1 down to B-1 can act as support, upside target is B+2.
Share